Fiscal sustainability report July 2013

Fiscal sustainability report July 2013

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In this third fiscal sustainability report, the OBR advise that the ageing of the population is likely to put pressure on the public finances, primarily as a result of upward pressure on public spending. As a result, some additional fiscal tightening is likely to be needed after the current crisis-related consolidation has been implemented. Since last year, the underlying deficit and debt path look less favourable. But this and the costs of long-term care reform are likely to be offset by the Government's announcement of additional spending cuts in 2017-18 and savings from the Single Tier pension.Table 2.1 1: Discount rates for central government pension schemes 2008-09 2009-10 2010-11 2011-12 2012-13 Discount ... 19 These discount rates are set in the Government Financial Reporting Manual (FReM), based on real yields of highanbsp;...


Title:Fiscal sustainability report July 2013
Author: Office for Budget Responsibility
Publisher:Stationery Office - 2013-07-17
ISBN-13:

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